Julius Malema challenges Clem Sunter on economy

2016-02-12 18:32

We refuse to be addressed by a criminal - Julius Malema after leaving SONA

2016-02-11 21:03

EFF president Julius Malema delivered what he called the "real" State of the Nation Address outside Parliament on Thursday night, competing with President Jacob Zuma's voice booming through speakers on the precinct.WATCH

EFF leader Julius Malema took on Clem Sunter, in a debate on economy at the Cape Sun, organised by the Cape Chamber of Commerce and Industry.

In their opening arguments Sunter argued South Africa's economy would be ruined by the nationalisation of state-owned entities.

Taking to the podium after Sunter's initial remarks, Malema maintained his position that economic emancipation for all South Africans could only happen through the redistribution of land without compensation to current land owners.

Speaking frankly, Malema stressed that 80% of South Africa's land owners are white, while 80% of South Africa's population are black.

"We have to talk to one another; as uncomfortable as it may be. That is Madiba's legacy, the ability to talk to those you disagree with," Malema said.

According to Fin24, Malema said the willing buyer-willing seller model initiated by the ANC-led government was flawed.

"If people want to buy the land and there is no willing seller we will never own a piece of land ... it does not matter how much money we have," he said.

"The economy is the land, the economy is the mines and resources, there is no food without the land."

According to Malema there was a need for the expropriation of land without compensation to address South Africa's increasing inequality gap.

He sketched a future scenario in which legislation would be passed in Parliament indicating that the state was the owner of the land and "the land shall be allocated to people who have indicated what they want to do with the land" and a decision made on whether that  was in the public interest. 

The main thrust of Sunter's argument was the development and promotion of entrepreneurship in South Africa.

He said a million new businesses were needed to create five million jobs.

According to Sunter the high level of mechanisation in the modern economy has removed a high level of jobs out of the system and the employment model has changed resulting in high levels of contract labour.

Sunter proposed that every big business should have 20% of its supply chain devoted to nurturing the new generation of small businesses.

"We should identify in every township economy the top 1000 entrepreneurs and advise them on how to extend their business into the mainstream economy... we have to focus on small businesses," he said.

Read more on:    julius malema  |  cape town

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